BlackRock Moves $285.5M in BTC and ETH to Coinbase Prime

On-chain data from Lookonchain indicates that 20,150 Bitcoin (BTC) and 54,096 Ethereum (ETH) were moved from BlackRock-related wallets to Coinbase Prime on May 17. The total value of the transfer amounts to approximately $285.5 million (around 39.11 billion won). Lookonchain reported that the Ethereum portion was valued at roughly $131.7 million (about 180.4 billion won) and Bitcoin at about $153.8 million (approximately 210.7 billion won). The movement's intent, whether for selling or asset reallocation, remains unclear based solely on on-chain observations.